Turbine, a London, UK-based company developing a cell behavior simulation platform, announced that it closed a €20 million Series A funding round.
The round was co-led by Mercia and the MSD Global Health Innovation (GHI) Fund, joined by Day One Capital and existing investors Accel, Delin Ventures, and XTX Ventures.
Turbine will use the financing proceeds to drive its next generation, potential first-in-class programs targeting DNA damage repair.
“The idea sprung from our frustration that conventional experiments frequently lead to expensive and time-consuming drug development failures,” said Szabolcs Nagy, CEO and co-founder of Turbine. “We’ve come a long way since 2016 when a handful of biologists and data scientists bootstrapped a technology to predict experiments better reflecting patients and more likely to translate in the clinic. With over 60 experts across the globe and the support of investors like MSD Global Health Innovation Fund and Mercia Asset Management, we’re poised to demonstrate that simulations not only reveal new ways of treating cancer but increase the likelihood of success at every single step of the drug development process.”
In conjunction with the financing, MSD GHI Fund and Mercia Asset Management have delegated members to Turbine's new board.
Company: Turbine Simulated Cell Technologies Ltd.
Raised: €20.0M
Round: Series A
Funding Month: November 2022
Lead Investors: Mercia and MSD Global Health Innovation (GHI) Fund
Additional Investors: Day One Capital, Accel, Delin Ventures, and XTX Ventures
Company Website: https://www.turbine.ai/
Software Category: Cell Simulation Platform
About the Company: Turbine was founded in 2016 by Kristof Szalay, Ph.D., Daniel Veres, M.D., Ph.D., and Szabolcs Nagy to overcome the limitations of existing methods in identifying oncology treatments that truly benefit the patients who receive them by combining molecular biology and artificial intelligence (AI). Since its founding, Turbine has developed and validated the Simulated Cell™, a proprietary and cutting-edge platform that runs billions of simulations prior to ever initiating preclinical development, guiding real-life experiments with invaluable biological insights. This improves the likelihood of success for truly novel therapies and allows existing assets to be optimally targeted to patients most likely to benefit from them. Turbine’s technology leverages artificial intelligence (AI) to build a constantly evolving, predictive simulation of cellular signaling. These virtual cells are used for in silico experiments having never been run in the lab, capturing patient biology better than available experimental models and testing more drug-like effects than current high throughput screening approaches. Validating the uncovered mechanisms and using the resulting data as feedback further improves the model’s capabilities to reveal novel biological mechanisms. Turbine is based in London, UK, with offices in Budapest, Hungary, and Cambridge, UK.
Source: https://www.businesswire.com/news/home/20221121005869/en/Turbine-Raises-%E2%82%AC20-Million-in-Series-A-Financing-to-Advance-Programs-Partnerships-Towards-the-Clinic-with-World%E2%80%99s-First-Cancer-Cell-Simulation-Platform